Mortgage Rates Today: GMAC Weekend Mortgage Deals Show Little Movement
GMAC is today in line with the majority of other major lenders across the US when it comes to low rates and high value mortgage deals, though it is beginning to look as though nothing less than giving mortgages away for free will be enough to tempt so many floating voters off the sidelines when it comes to both home purchases and refinance agreements.
At GMAC, 30 year fixed term deals for home purchase are today being offered for 4.250% and an APR of 4.394%, while the popular option of the 15 year fixed term can be secured for 3.625% and a 3.932% APR.
The 5 year ARM term for purchase is being advertised with an interest rate of 2.500% which amounts to an APR of 2.979%, while the Jumbo 5 year ARM can be taken with a starting rate of 3.250% and a resulting APR of 3.267%.
With regard to refinancing deals, 30 year fixed term contracts can be taken out for a rate of 4.250% and a resulting APR of 4.394%, while the 15 year alternative is today at 3.625% and an APR of 3.932%.
Adjustable rate deals for refinances are available in the form of the 7 year ARM with a starting rate of 2.750% and 3.073% APR, while the 5 year ARM is now resting at 2.500% and an APR of 2.979%.
As stated, the latest data has revealed that consumer interest in mortgages by way of new mortgage activity has once again entered a state of freefall, suggesting that the much needed market boom is now almost entirely beyond the realms of realistic possibility.
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